While the rest of the world is facing a financial meltdown, the Iraq Stock Exchange is booming. The ISX index soared nearly 40 percent during September, boosted by increasing confidence in security gains. But the stock market's chief isn't gloating. He's worried Iraq's greatest asset — oil — could prove to be its Achilles' heel. "I believe we're still far from what's happening in the world in the financial markets. But in the end you must know we are part of this world. I believe somehow we will have some problems," chief executive officer Taha Abdul-Salam said Sunday during an interview in his office above the busy trading floor. Iraq is in a unique position since its post-war economy is in the rebuilding process and still largely dependent on U.S. funds instead of international investment. That's reflected in the stock...
[read full story]
Your Web Site
